TORONTO, May 22 (Reuters) – Toronto’s scandal-hit mayor, Rob
Ford, stayed away from city hall on Wednesday but his older
brother, a fellow city politician, issued a fierce defense of
Ford, who was allegedly caught on a cellphone video smoking
“Rob is telling me these stories are untrue, that these
accusations are ridiculous, and I believe him,” said Doug Ford,
his brother’s closest ally on a divided city council.
TORONTO, May 21 (Reuters) – Toronto’s mayor, facing
allegations that he has been caught on video smoking crack
cocaine, saw his dreams of a building a full-service casino in
the heart of Canada’s largest city dashed on Tuesday, as council
voted against allowing any new gaming facilities.
Rob Ford avoided any contact with reporters at City Hall and
did not address allegations from two media outlets that say they
have seen a cellphone video that appears to show him smoking
TORONTO, May 20 (Reuters) – The mayor of Canada’s largest
city, facing allegations that he smoked crack cocaine, and made
racial and homophobic slurs on video, must either refute the
accusations or step down, fellow city politicians say.
“If the allegations are false, then the mayor is owed some
apologies,” said Councillor Josh Matlow, who has clashed with
Ford on transit issues, but who usually takes a centrist line in
a polarized city council.
TORONTO, May 17 (Reuters) – Toronto Mayor Rob Ford denies
allegations that he smoked crack cocaine, his lawyer told the
Toronto Sun on Friday.
Reporters for the Toronto Star, a rival Canadian newspaper,
and Gawker Media, a U.S. media outlet, said they had seen a
video that appears to show Ford smoking crack.
(Reuters) – Freeport-McMoRan Copper & Gold Inc (FCX.N: Quote, Profile, Research, Stock Buzz) appears to be in a win-win situation as Plains Exploration shareholders prepare for Monday’s vote on the miner’s nearly $6 billion takeover bid, part of its strategy to expand into energy.
Plains Exploration & Production Co’s (PXP.N: Quote, Profile, Research, Stock Buzz) share price, now hovering below the bid price, suggests that investors feel Freeport’s current offer could fall short. Analysts and investors see a razor-thin margin no matter which side carries the vote.
May 14 (Reuters) – Novelis Inc, the world’s
largest producer of rolled aluminum products, reported a
quarterly profit on Tuesday, versus a year-earlier loss, boosted
by stronger demand and better cost controls.
The company, a unit of India’s HindalCo Industries Ltd
, said it was able to push through unexpected headwinds
in the second half of fiscal 2013, which ended March 31, and
will continue to move ahead with numerous expansion projects.
TORONTO, May 2 (Reuters) – Miner Goldcorp Inc said on
Thursday that its first-quarter profit dropped by a
steeper-than-expected 35 percent as lower metal prices and
higher costs outweighed a boost in gold sales.
Shares of the world’s largest gold miner by market
capitalization fell 2.1 percent to C$28.46 on the Toronto Stock
TORONTO, April 30 (Reuters) – Yamana Gold Inc is
aiming to sharply reduce its all-in sustaining costs this year,
as the growing Canadian gold producer adjusts to a recent drop
in bullion prices, its chief executive said on Tuesday.
The cost-cutting plan comes after the Toronto-based miner,
which owns mines in Mexico and South America, reported a 40
percent drop in first-quarter profit, as lower gold prices and
higher costs outweighed a boost in production.
TORONTO, April 29 (Reuters) – Kinross Gold Corp on
Monday estimated the cost of a scaled-back expansion of its
struggling Tasiast mine in West Africa at $2.7 billion, more
than some analysts had expected, sending its shares 3 percent
The company said it was pushing ahead with a feasibility
study for a new 38,000 tonne-per-day mill at the project,
located in remote Mauritania, despite plunging gold prices and
investor pressure in the mining sector to cut back on spending.
TORONTO, April 24 (Reuters) – Barrick Gold Corp,
making a painful adjustment to a sustained slump in bullion
prices, said on Wednesday it was scaling back capital spending
and reported progress in controlling costs, sending its shares
The world’s No. 1 gold producer also warned that it could
suspend development at its largest new project, Pascua-Lama,
after a Chilean court halted some work on environmental grounds.
The project straddles the border of Chile and Argentina, high in